Franklin Rises Most Since 2012 as Company Reduces Expenses

Updated on
  • Suffers worst redemptions ever as clients pull $28.6 billion
  • Firm approves the buyback of an additional 30 million shares

Franklin Resources Inc. rose the most in more than three years as the manager of the $58 billion Templeton Global Bond Fund boosted its share buyback program and cut expenses to respond to record redemptions from its funds.

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